NEWSLETTER – NOV 20, 2022

Fed’s Collins expresses hope that inflation can be tamed without hitting jobs

• Boston Fed President Susan Collins expressed confidence that policymakers can tame inflation without doing too much damage to employment.

• “Restoring price stability remains the current imperative and it is clear that there is more work to do,” she said.

Sourced from CNBC

Brits face sharpest fall in living standards on record as government tightens its belt

• Alongside confirmation that the country has entered a recession and GDP will contract by 1.4% in 2023, the Office for Budget Responsibility (OBR) on Thursday estimated that real household disposable income — a measure of living standards — is projected to fall by 4.3% in 2022-23.

• The cumulative decline of 7.1% between 2021-22 and 2023-24 would reduce RHDI to its lowest point since 2013-14, erasing eight years of growth.

Sourced from CNBC

Home sales fell for the ninth straight month in October, as higher mortgage rates scared off potential buyers

• Home sales declined for the ninth straight month in October.

• Sales of previously owned homes dropped 5.9% from September to October, according to the National Association of Realtors.

• That is the slowest pace since December 2011, with the exception of a very brief drop at the beginning of the Covid-19 pandemic.

Sourced from CNBC